Prime Time
Amazon launched Prime for businesses to replicate quick delivery in the workplace. Shares of industrial suppliers Grainger and Fastenal dropped upon the news of Business Prime Shipping. Makes sense since if I need a certain bolt or pair of safety goggles and can get them faster from Amazon – why would I go to Grainger? Amazon’s new feature, available in the U.S. and Germany, provides two-day delivery to companies paying $499 to $10,099 annually (depending on their size). While B2B transactions have been slower to transition online than retail, they could provide a great revenue opportunity for Amazon in the long run. (Source: Bloomberg Tech)
WeWorked It Out
WeWork, now valued at $20 billion, acquired Flatiron School, a coding education platform that helps students pursue a career in tech. Their motto is: Learn. Live. Code. WeWork employees and members will now be able to expand their skillsets and resumes through online and in-person Flatiron School courses. This acquisition serves as yet another valuable asset that WeWork can use as an incentive to keep their members around. “In Flatiron, we have found a partner who shares our vision of connecting people – through space, design, technology and community – and understandings that those connections are what humanizes the way we work and live,” CEO and founder Adam Neumann said. (Source: TechCrunch)
Hopkins’ Tale
Mike Hopkins, Hulu’s CEO since 2013, will leave to run Sony TV. His replacement, Randy Freer, comes from an extensive executive background with Fox and, like Hopkins, is currently a Hulu board member. This shift in leadership comes less than two months after Hulu’s big win with Handmaid’s Tale at the Emmy Awards. During his four year run, Hopkins transformed Hulu from last night’s television to a streaming necessity. “Hulu is at the center of transformation in entertainment,” Freer said. “Hulu’s management team and employees have positioned Hulu to be a leader in defining the future of content creation, distribution and monetization – all while putting the viewer first.” (Source: Recode & Los Angeles Times)
